Post-Market Report: Bulls Roar as Sensex Leaps 1,233 Points and Nifty Reclaims 23,440 Led by Reliance Rally
Market Performance Today
Indian benchmark equity indices kicked off the trading week on a stellar note on Monday, November 2, 2026, logging their third consecutive session of strong gains. Dalal Street witnessed heavy broad-based buying right from the opening bell.
The 30-share BSE Sensex jumped 1,233.25 points, or 1.66%, to close at its day's high of 75,692.78. Similarly, the broader 50-share NSE Nifty 50 surged 387.70 points, or 1.68%, to end at 23,440.80. The single-day rally added over ₹8 lakh crore to investor wealth, pushing the total market capitalisation of BSE-listed firms above the ₹482 lakh crore mark.
Top Movers (Sectors and Stocks)
Market heavyweight Reliance Industries was the star performer of the day, delivering its best single-day performance in years.
Top Stock Gainers:
- Reliance Industries: Skyrocketed 11.64% following a blockbuster second-quarter earnings report.
- Tata Steel: Advanced 5.33% amid strong buying in metal counters.
- JSW Steel: Gained 5.02%, participating in the broader commodity upswing.
- Shriram Finance & Coal India: Rallied nearly 5% each.
- Other prominent gainers included UltraTech Cement, State Bank of India, NTPC, and Maruti Suzuki.
Top Stock Laggards:
- Infosys: Slumped 2.37%, emerging as the primary drag among large caps.
- ICICI Bank: Shed 1.11% on profit booking.
- Sun Pharma: Declined 0.93%.
- Kotak Mahindra Bank & Axis Bank: Closed approximately 0.7% lower.
Sectoral Trends:
- Nifty Oil & Gas and Nifty Metal led the charge, rising nearly 6% and 2.8% respectively.
- Nifty PSU Bank (+1.19%) and Nifty Auto (+1.05%) recorded solid gains.
- In contrast, Nifty IT (-0.80%), Nifty Media (-0.70%), Nifty Private Bank (-0.40%), and Nifty Pharma (-0.32%) settled in the red.
Key Drivers of Today's Market
Several supportive domestic and global triggers fuelled Monday's rally:
- Blockbuster Reliance Earnings: Reliance Industries posted a record quarterly net profit of ₹29,550 crore for the July–September period, marking a 33.8% year-on-year surge driven by robust oil-to-chemicals (O2C) refining margins and steady expansion in Jio.
- Softening Crude Oil Prices: International Brent crude cooled off towards $110–$111 per barrel following reports of renewed US diplomatic engagements with Iran, easing worries over imported inflation and energy costs for Indian companies.
- Resilient Domestic Macros: Strong macroeconomic readings—including healthy October passenger-vehicle sales reflecting festive demand and elevated gross GST collections—reinforced confidence in domestic consumption.
- Easing Bond Yields & FII Inflows: US Treasury yields eased, with the benchmark 10-year yield softening below 5% (to around 4.93%). A rotation of foreign institutional capital away from overstretched global AI plays also benefited Indian equities.
Broader Market Performance
Broader markets participated actively in the upward momentum, though large-cap benchmarks outperformed on account of the heavyweight surge:
- The Nifty Midcap 100 index gained 1.19%.
- The Nifty Smallcap 100 rose 0.71%, while the Nifty Smallcap 250 advanced 1.35%.
- Overall market breadth on the National Stock Exchange (NSE) heavily favoured bulls, with 2,443 stocks advancing compared to 1,167 declines, while 99 scrips remained unchanged.
